Remember honest Abe? Most everyone does remember him and holds him in high regard. While he is admired, few can live up to the standard he set.Yesterday as our new president Barack Obama took the oath of office with his hand on Lincoln's bible, the stock market was tanking and the financial stocks were taking the worst of it. The overall market was down about 3.5% and one of the stocks included in Chasing Value: 9 picks for 2009 -- APC, GE, ISRG, WFC and more, Wells Fargo (NYSE: WFC), dropped about 20% -- yikes!
Lincoln served during our nations most trying times and President Obama will not be having an an easy time either.I was pondering some of our many problems this morning, and one that caused me to think about the subject of this post was the gargantuan government budget deficits that know no bounds in our current economic turmoil. That deficit is likely going to be higher than anyone thinks, because the government will be collecting less in taxes based on business and personal financial losses that have grown larger after each budget estimate.
Welcome to Way Off Wall Street, a column dedicated to providing Main Street opinions on topics of interest to investors. Each installment highlights the views of Americans who are far removed from the canyons of Wall Street -- and who often see things more clearly as a result.
Comfort Zone Investing: The unmighty dollar
Five winners of a weak dollar
For a quick-read on the U.S. economy, check the price of gasoline
